PM Modi’s initiative brought color, more than 27 lakh carts and street vendors asked for loan | PM Modi’s initiative brought color, more than 27 lakh carts and street vendors asked for loan

New Delhi, 18 November (IANS). The scheme launched by Prime Minister Narendra Modi to force the employment of the handlers and hawkers affected in the lockdown has been a huge success. Within the last five months, more than 27 lakh small shopkeepers have asked for loans under the PM Swanidhi scheme started by the Ministry of Urban Affairs. Under this scheme, small shopkeepers get loans without guarantee.

A total of 27,33,462 street vendors have applied for loans so far since the inception of the scheme, according to the latest data received by IANS from the Ministry of Urban Affairs. Out of which 14,34,390 loan was sanctioned and till now 7,88,384 people have been issued loan amount.

According to the officials of the ministry, awareness of this scheme is revealed by the arrival of more than 27 lakh applications for loans in the five months since the launch of PM Swanidhi scheme. An official associated with the operation of PM Swanidhi, the PM Street Vendors Self-Reliant Fund Scheme, told IANS: “The scheme for the street vendors is getting very good response. The number of beneficiaries of the scheme is increasing continuously with the cooperation of state governments and banks.

Let us tell you that the PM Swanidhi scheme was approved in the Union Cabinet meeting in June on the initiative of Prime Minister Narendra Modi to help restore the affected employment of street vendors during lockdown. Online submission of applications started from 2 July 2020 on PM Swanidhi portal. After which continuous applications started coming. Under this scheme, street vendors get a maximum loan of up to Rs 10,000 without any guarantee. Those selling fruits and vegetables along the roads, running tea-shop shops, salons, carts, street vendors, get loans under this scheme. Under this scheme, there are preparations to benefit more than 50 lakh street vendors in the country.

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